Stock market update: Most telecom stocks suffer, but Idea, Bharti Infratel, Airtel keep the index in green

NEW DELHI: Most telecom stocks were trading in the negative zone during afternoon trade on Friday.

However, gains in Bharti Airtel (up 1.46 per cent), Idea Cellular (up 0.73 per cent) and Bharti Infratel (up 0.44 per cent) were keeping the sectoral index in the green.

The BSE Telecom index was trading 0.38 per cent up at 1,211 around 01:30 pm, with only 3 stocks advancing and 14 declining in trade.


Shares of Reliance Communications (down 8.02 per cent), GTL Infrastructure (down 4.74 per cent) and GTL (down 4.59 per cent) were the top losers in the telecom index.

OnMobile Global (down 2.90 per cent), Himachal Futuristic Communications (down 2.52 per cent), Tata Teleservices (Maharashtra) (down 2.46 per cent), Sterlite Technologies (down 1.99 per cent), ITI (down 1.95 per cent), MTNL (down 1.52 per cent), Tata Communications (down 1.15 per cent), Tejas Networks (down 0.90 per cent) and Vindhya Telelinks (down 0.75 per cent) were also among top losers in the index around the same time.

Losses in heavyweights such as HDFC Bank, ITC, Kotak Mahindra Bank and State Bank of India pulled the benchmarks down.

The BSE Sensex was 52 points down at 35,270, while the NSE Nifty50 index was down 30 points at 10,706.

Among the 50 stocks in the Nifty index, 21 were trading in the green, while 29 were in the red.

Sensex had 13 stocks advancing, while 18 declining in trade.

Bajaj Auto, Maruti, Hero MotoCorp and Tata Motors were leading the pack of Sensex gainers.

On the other hand, ONGC, Power Grid and Tata Steel were among the top losers in the Sensex kitty of stocks.